COMPANY REGISTRATION NUMBER:
01618269
|
Abbey Flats Management Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Abbey Flats Management Limited |
|
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Tangible assets |
4 |
|
19,137 |
19,137 |
|
|
|
|
|
Current assets
|
Debtors |
5 |
16,017 |
|
10,348 |
|
Cash at bank and in hand |
42,941 |
|
49,814 |
|
------- |
|
------- |
|
58,958 |
|
60,162 |
|
|
|
|
|
|
Prepayments and accrued income |
6,839 |
|
5,546 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
3,240 |
|
3,089 |
|
------- |
|
------- |
|
Net current assets |
|
62,557 |
62,619 |
|
|
------- |
------- |
|
Total assets less current liabilities |
|
81,694 |
81,756 |
|
|
------- |
------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
7 |
|
36 |
36 |
|
Other reserves |
|
17,600 |
17,600 |
|
Profit and loss account |
|
64,058 |
64,120 |
|
|
------- |
------- |
|
Shareholders funds |
|
81,694 |
81,756 |
|
|
------- |
------- |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
17 February 2025
, and are signed on behalf of the board by:
|
R. A. Busby |
B. Osmond |
|
Director |
Director |
|
|
Company registration number:
01618269
|
Abbey Flats Management Limited |
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Notes to the Financial Statements |
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Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered and trading in England and Wales with company number
01618269
. The address of the registered office is 125-131 New Union Street, Coventry, CV1 2NT.
2.
Statement of compliance
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS102') and Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Capital reserve
On 7th October 1998 the Directors of the company agreed that the company would purchase the freehold of the development from Slora Construction Ltd for a consideration of £17,250. Completion took place on 6th August 1999. The cost as shown on the balance sheet includes all legal fees paid.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered and stated net of discounts. Revenue from the services rendered is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as accruals and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
4.
Tangible assets
|
Freehold Property |
Total |
|
£ |
£ |
|
Cost |
|
|
|
At 1 January 2024 and 31 December 2024 |
19,137 |
19,137 |
|
------- |
------- |
|
Carrying amount |
|
|
|
At 31 December 2024 |
19,137 |
19,137 |
|
------- |
------- |
|
At 31 December 2023 |
19,137 |
19,137 |
|
------- |
------- |
|
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
16,017 |
10,348 |
|
------- |
------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Other creditors |
3,240 |
3,089 |
|
------ |
------ |
|
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7.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
36 |
36 |
36 |
36 |
|
---- |
---- |
---- |
---- |
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8.
Related party transactions
There was no ultimate controlling party in the current or previous period.